Global pension funds British Columbia Investments and APG Asset Management are among investors seeking a stake in Mahindra Susten Pvt Ltd’s infrastructure investment trust (InvIT), The Economic Times reported, citing people close to the matter.
Mahindra Susten is the renewable energy arm of the Mahindra Group. Its businesses include the conglomerate's renewable energy-focussed engineering, procurement and construction unit with more than 4 GW of capacity constructed as well as a power production unit with around 1.54 GW of operational solar plants.
Walmart-owned PhonePe is looking to sign a commercial pact with Zestmoney in lieu of an $18 million loan it had handed out to the cash-strapped company, The Economic Times reported, citing people aware of the development.
The development comes barely a month after PhonePe called off the acquisition of buy-now-pay-later startup Zestmoney following months of due diligence.
ZestMoney is also learnt to be in discussions to raise equity capital from some existing investors. However, those talks are preliminary, the report said.